Life Healthcare increases stake in Indian healthcare group

Life Mercantile Hospital in Port Elizabeth, South Africa. PHOTO: Life Healthcare

“Since Life Healthcare’s initial 26 per cent shareholding in Max Healthcare Institute in 2011, valued at approximately 830 million rand, the joint venture has evolved into a strong partnership with mutual consultations on key decisions such as business plans, talent and performance management,” Life Healthcare group CEO André Meyer said in a statement.

[DATA LHC:Life Healthcare] is a South African private hospital operator that also specialises in the operation of rehabilitation, frail care and mental health units.

The acquisition now boosts Life Healthcare’s stake in Max Healthcare Institute (MHC) to 46.4 per cent. The expected date for the conclusion of the transaction is 31 August this year, and will be subject to the approval of the South African Reserve Bank and any other regulatory approval required.

“As Max Healthcare Institute prepares itself for further expansion opportunities, this is an opportune time to further cement the partnership by equalising the shareholding, as anticipated in the original joint venture agreement,” Meyer explained.